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B2B Asia News
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This is a B2B Cambodia Market Update for 11 December 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 1.2 points, or 0.30% to 401.23.
- Total trade volume was up with 75,497 shares changing hands at a total value of 420 million KHR or approximately $104,500 US dollars.
- On the main board, two stocks were up. Leading the market was CAMGSM, up 0.83% or 20 KHR to 2,440 KHR per share, followed by Sihanoukville Autonomous Port, up 0.18% or 20 KHR to 11,340 KHR per share.
- On the downside, Pestech Cambodia was the biggest loser of the day, down 2.48% or 60 KHR to 2,360 KHR per share, followed by Grand Twins International, which was down 0.77% or 40 KHR to 5,180 KHR per share. The other two stocks down were the Phnom Penh Water Supply Authority and the Phnom Penh Autonomous Port.
- Meanwhile three stocks, Royal Group Phnom Penh SEZ, ACLEDA Bank, and MJQ Education, stayed flat.
- Over on the growth board, DBD Engineering was up 0.49% or 10 KHR to 2,040 KHR per share while JS Land remained flat at 3,430 KHR per share.
- ACLEDA Bank once again recorded the highest trade volume of the day, with 38,006 shares changing hands at a total value of 26.7 million KHR or around $65,700 US dollars, roughly 50% of total shares traded on December 11th.
- Grand Twins International recorded the second highest trade volume of the day with 11,376 shares changing hands at a total value of 58 million KHR or $14,456 US dollars, making up 15% of Wednesday’s trade volume.
- In other market news, the Phnom Penh Autonomous Port released its unaudited revenue for the first 11 months of 2024, reaching $36.4 million US dollars, an increase of 19% compared to the same period last year. The report noted the increase in total revenue was due to an increase in revenue from port operations, the port authority, and other services.
- Exchange rate, the KHR to USD was stable at 4,022 Khmer Riel per USD, while the USD index was up to 106.50.
- Looking at global commodities, oil prices rose on Wednesday, with market participants expecting demand to rise in China, the world's largest crude importer, after Beijing announced it would relax monetary policy to try to stimulate economic growth.
- Brent crude futures gained 24 cents, or 0.3%, to $72.43 US dollars a barrel.
- China said on Monday it would adopt an "appropriately loose" monetary policy in 2025 as
Beijing tries to spur its economy with the first easing of its stance in 14 years. Chinese crude imports grew annually for the first time in seven months in November, up more than 14% from a year earlier. - Gold prices traded mostly flat as investors looked forward to a critical U.S. inflation print that could influence chances of a widely expected U.S. Federal Reserve interest rate cut next week and offer more cues on their 2025 outlook.
- Spot gold held its ground at $2,689.42 US dollars per ounce, hitting its highest since November 25th earlier in the session.
- U.S. gold futures rose 0.3% to $2,725.50 US dollars.
- U.S. stock futures struggled for direction early Wednesday as investors played a waiting game ahead of crucial inflation data.The anticipation of November’s consumer price index data hasn’t helped the stock market, which has fallen for two consecutive days to start the week.
- As of the time of the Cambodian market’s closing, Futures on the S&P 500 edged up 0.1%, Nasdaq 100 futures also rose 0.1%, while Dow Jones Industrial Average futures fell 0.1%. The Dow has struggled lately, falling for a fourth consecutive day on Tuesday.
Watch the 11 December 2024 market update in Khmer below: